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Wrapped Ampleforth

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Discover Wrapped Ampleforth's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Wrapped Ampleforth?

Wrapped Ampleforth (WAMPL) is a decentralized cryptocurrency that operates on the Ethereum blockchain. It is a wrapped version of Ampleforth (AMPL), a unique digital asset that targets the CPI-adjusted dollar. WAMPL facilitates ecosystem integrations on both centralized and decentralized platforms, making it more accessible and composable than AMPL. It is fully redeemable for AMPL on-chain and does not rebase, maintaining a floating price.

How is Wrapped Ampleforth used?

Wrapped Ampleforth (WAMPL) is a wrapped ERC-20 token that is 1:1 redeemable for AMPL. It does not rebase and maintains a floating price. WAMPL broadens access to the Ampleforth ecosystem by making platform integrations simpler, more secure, and faster. It unlocks new technical integrations and expanded opportunities to access the Ampleforth ecosystem, particularly for users who want to take a position in the AMPL network without immediately needing to use it as a unit of account.

How do I store Wrapped Ampleforth?

To store Wrapped Ampleforth (WAMPL) tokens, you can use any wallet that supports Ethereum (ERC-20) tokens. Here are some options:

  1. Hardware Wallets: These are the most secure option. They are physical devices that store your private keys offline, protecting your tokens from unauthorized access.
  2. Official Coin Wallet: You can use the official wallet provided by the Wrapped Ampleforth team for storing your WAMPL tokens.
  3. Third-Party Software Wallets: There are various third-party software wallets available that support Ethereum and ERC-20 tokens, such as MetaMask. These wallets can be installed on your computer or mobile device.
  4. Centralized Exchanges (CEX): You can also store your WAMPL tokens on a centralized exchange like Coinbase Pro, but this is not recommended as exchanges can be vulnerable to hacks and security breaches. It is generally safer to store your tokens in a personal wallet.

How to buy Wrapped Ampleforth?

To buy Wrapped Ampleforth (WAMPL) tokens, you can follow these steps:

  1. Choose a Centralized Exchange (CEX):

    • Select a reliable and trustworthy crypto exchange that supports Wrapped Ampleforth (WAMPL) purchases, such as Coinbase, Binance, or KuCoin.
    • Create an account by providing necessary information, including your email address, a secure password, and complete any identity verification steps.
    • Add a payment method, such as a credit/debit card or bank account, following the exchange's instructions.
  2. Buy Wrapped Ampleforth (WAMPL):

    • Navigate to the Buy & Sell section and select Wrapped Ampleforth (WAMPL) as the cryptocurrency you want to buy.
    • Choose your preferred order type, such as Market Order, Stop Order, Limit Order, or TWAP Order, depending on your trading strategy.
  3. Alternative: Buy via a Crypto Wallet:

  • Select a reliable and reputable crypto wallet that supports Wrapped Ampleforth (WAMPL), such as Trust Wallet or Metamask Wallet.
  • Download the wallet application and create a new wallet address or import an existing one.
  • Purchase Wrapped Ampleforth (WAMPL) using a supported payment method, or first buy a popular cryptocurrency like ETH and then exchange it for Wrapped Ampleforth (WAMPL) on a decentralized exchange (DEX).
  1. Decentralized Exchange (DEX) Option:
    • If you prefer more privacy, you can use a DEX like 1inch, which connects you directly with sellers without intermediaries.
    • Connect your crypto wallet to the DEX and trade your ETH for Wrapped Ampleforth (WAMPL).

Remember to carefully consider your investment experience, financial situation, investment objectives, and risk tolerance before making any investment decisions. Cryptocurrency prices are subject to high market risk and price volatility.

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History of Wrapped Ampleforth

Wrapped Ampleforth (WAMPL) is a token that wraps the AMPL token, similar to how wrapped ETH (wETH) or wrapped Bitcoin (wBTC) work. It was introduced to broaden access to the Ampleforth ecosystem by providing a more composable ERC-20 token, making platform integrations simpler, more secure, and faster. This wrapped token does not rebase and maintains a floating price, unlike AMPL, which rebases and has a fixed supply.

Wrapped Ampleforth was listed on Coinbase in June 2022, marking a significant milestone for rebasing tokens. This listing increased the accessibility of rebasing tokens, which have gained popularity for their ability to hedge against more volatile assets due to their elastic supply model.

Wrapped Ampleforth is fully redeemable for AMPL and is governed by the FORTH DAO. It includes an "unbutton" wrapper, which allows any rebasing token to be converted into a non-rebasing version, making it easier to integrate with major centralized exchanges.

Wrapped Ampleforth has seen significant market activity, with a market capitalization of around $16 million and a circulating supply of approximately 634,000 tokens. Its price has fluctuated over time, with an all-time high of $43.44 and an all-time low of $1.96.

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How Wrapped Ampleforth works

Wrapped Ampleforth (WAMPL) is a decentralized cryptocurrency that operates on the Ethereum blockchain. It is a wrapped version of Ampleforth (AMPL), a unique digital asset that adjusts its supply based on market demand to maintain a stable price. WAMPL allows users to trade Ampleforth on decentralized exchanges and participate in peer-to-peer transactions seamlessly.

Key Features
  • Wrapped Token: WAMPL is a wrapped version of AMPL, similar to how wrapped ETH (wETH) or wrapped Bitcoin (wBTC) work with Ethereum and Bitcoin, respectively. It is fully redeemable for AMPL on-chain.
  • Fixed Supply: Unlike AMPL, WAMPL has a fixed supply and does not rebase. This makes integrations on both centralized and decentralized platforms simpler by removing the need for rebasing calculations across platforms.
  • Ethereum Blockchain: WAMPL utilizes Ethereum's consensus mechanism, which relies on a network of nodes to validate and confirm transactions. This ensures transparency, security, and immutability of transactions.
  • Decentralized Nature: WAMPL's decentralized nature and innovative design set it apart from traditional financial systems, offering users a new way to engage in the digital economy with increased efficiency and flexibility.
  • Use Cases: WAMPL provides users with exposure to the price movements of Ampleforth while benefiting from the liquidity and accessibility of the Ethereum ecosystem. This opens up a wide range of use cases, including decentralized finance (DeFi) applications, cross-border payments, and asset management.
Benefits
  • Easy Integration: WAMPL facilitates ecosystem integrations on both centralized and decentralized platforms. If a platform supports ERC-20 tokens, it will support WAMPL by default without any technical integration effort.
  • Accessibility: WAMPL expands on AMPL’s role as a key building block for denominating stable contracts via an independent, algorithmic unit of account. It unlocks new technical integrations and expanded opportunities to access the Ampleforth ecosystem.
  • Security: WAMPL is governed by the FORTH DAO and includes an “unbutton” wrapper, built in conjunction with the team at prl.one, which allows any rebasing token to be converted into a non-rebasing version, making it more integrated with major centralized exchanges (CEXes) with no additional development effort needed.
Safety and Storage

To keep your Wrapped Ampleforth (WAMPL) safe, consider using hardware wallets like Ledger or trusted platforms like Coinbase. Hardware wallets offer enhanced security by storing your private keys offline, making them less vulnerable to hacking. Coinbase, a reputable cryptocurrency exchange, provides a secure platform for storing and trading WAMPL, with features like two-factor authentication and insurance against theft or hacking.

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Wrapped Ampleforth's strengths

Wrapped Ampleforth (WAMPL) has several strengths that make it an attractive option for investors and users:

  • Fully Redeemable On-Chain: WAMPL is fully redeemable for AMPL on-chain, ensuring that users can easily convert their tokens without any technical hurdles.
  • Zero Technical Integration: Since WAMPL is an ERC-20 token, any platform that supports ERC-20 tokens can seamlessly integrate WAMPL without requiring additional technical setup.
  • Simplified Ecosystem Integrations: WAMPL facilitates ecosystem integrations on both centralized and decentralized platforms, making it easier for users to access the Ampleforth ecosystem.
  • Composability: WAMPL is a perfectly composable ERC-20 token, which enhances its usability and flexibility in various DeFi applications.
  • Floating Price: Unlike AMPL, WAMPL maintains a floating price, which allows it to adapt to market conditions more effectively.
  • Increased Accessibility: WAMPL broadens access to the Ampleforth ecosystem, providing users with more flexibility in how and where they deploy their AMPL tokens.

These strengths make WAMPL a versatile and accessible token that can be easily integrated into various platforms and applications, enhancing its overall value and usability.

Wrapped Ampleforth's risks

Wrapped Ampleforth (WAMPL) is a decentralized cryptocurrency that operates on the Ethereum blockchain. It is a wrapped version of Ampleforth, which adjusts its supply based on market demand to maintain a stable price. WAMPL allows users to trade Ampleforth on decentralized exchanges and participate in peer-to-peer transactions seamlessly. The underlying blockchain technology ensures transparency, security, and immutability of transactions.

Financial Risks

Wrapped Ampleforth (WAMPL) carries several financial risks:

  1. Market Volatility: As a cryptocurrency, WAMPL is susceptible to market fluctuations. Its value can decrease significantly over a short period, as seen in the past where it experienced a -9.52% decrease in value over 24 hours.

  2. Security Risks: Like any digital asset, WAMPL is vulnerable to hacking and theft. Users must ensure they store their WAMPL securely using hardware wallets or trusted platforms like Coinbase to minimize these risks.

  3. Competition: The cryptocurrency market is highly competitive, and WAMPL faces competition from other stablecoins and decentralized finance (DeFi) applications. This competition can impact its adoption and value.

  1. Regulatory Risks: Cryptocurrencies are subject to changing regulatory environments. Any unfavorable regulations or restrictions can negatively impact the value and usability of WAMPL.

  2. Technical Risks: As a decentralized asset, WAMPL relies on the Ethereum blockchain and its underlying technology. Any technical issues or upgrades to the Ethereum network can affect WAMPL's functionality and value.

  3. Counterparty Risks: WAMPL's use in DeFi applications and cross-border payments exposes users to counterparty risks, where the other party in a transaction may default or fail to fulfill their obligations.

  1. Liquidity Risks: WAMPL's liquidity can be affected by market conditions, which can make it difficult for users to buy or sell the asset quickly and at a favorable price.
Mitigating Risks

To mitigate these risks, users should:

  • Stay informed about market trends and regulatory changes.
  • Use secure storage options like hardware wallets or reputable exchanges.
  • Diversify their portfolios to minimize exposure to any one asset.
  • Participate in the Ampleforth community to stay updated on the project's developments and any potential risks or opportunities.

By understanding these risks and taking steps to manage them, users can make more informed investment decisions and navigate the cryptocurrency market more effectively.

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Wrapped Ampleforth's ecosystem

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Wrapped Ampleforth’s team

  • Evan Kuo: Member of the Wrapped Ampleforth (WAMPL) team.
  • Brandon Iles: Member of the Wrapped Ampleforth (WAMPL) team.
  • Manny Rincon-Cruz: Member of the Wrapped Ampleforth (WAMPL) team.
  • Paul Veradittakit: Member of the Wrapped Ampleforth (WAMPL) team.
  • Joey Krug: Member of the Wrapped Ampleforth (WAMPL) team.
  • Richy Qiao: Member of the Wrapped Ampleforth (WAMPL) team.
  • Noah Jessop: Member of the Wrapped Ampleforth (WAMPL) team.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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